Accountant for agriculture and the agri-food industry

Managing a farm in Quebec means collecting the bulk of your income in just a few weeks, at harvest time or when livestock are sold, while expenses run year-round. Between livestock appraisals, quotas to finance, machinery to depreciate, and La Financière agricole programs to declare, the accounting for a farm or agri-food operation is unlike any other. You need an accountant who speaks your language: cash-basis accounting, AgriStability margins, AGR-1 slips, and farm property tax credits.

Find the ideal accountant for your sector, one who truly understands agriculture and the agri-food industry. We'll introduce you to the right accountant for your sector, free of charge, as many times as needed, and we'll be there for you from the initial meeting until the farm transfer. No obligation.

• Coping with extreme seasonality: income comes in at harvest or livestock sales, but expenses run all year round, hence tight management of cash flow and credit line.
• Evaluate a living inventory: livestock, crops in the ground, fodder and inputs, with inventory adjustments specific to the cash method.
• Financing heavy capital assets: land, machinery, buildings and drainage, in a context where the price of Quebec farmland continues to rise.
• Managing quotas under supply management (milk, eggs, poultry): an asset to be financed and amortized (category 14.1), the milk quota being capped at €24,000 per kilogram of fat.
• Maximize agricultural programs: Agri-stability, Agri-investment, ASRA and crop insurance from La Financière agricole, which require rigorous margin declarations.
• Living with low and volatile margins, at the mercy of weather, global prices and interest rates.
• Preparing for farm transfer to the next generation: child turnover and cumulative exemption of capital gains exceeding $1.25 million on eligible farm assets.

• Reporting farm income on form T2042 to the federal government (cash method authorized), harmonized with your Agri program declarations.
• VAT (5%) and VAT (9.975%): most agricultural products are tax-exempt, so registration remains payable even below the small supplier threshold of $30,000, to recover your ITCs and ITRs on inputs.
• Source deductions (DAS) on farm employees and temporary foreign workers: T4, RL-1 and CNESST contributions.
• AGR-1 slips and statement 21 for agricultural support payments (Agri-stability, ASRA and others), to be correctly reported in your income.
• Capital cost allowance (CCA) on machinery, buildings and quotas; deductible land clearing and drainage costs.
• Limited farm losses, capped at $17,500 per year, if farming is not your primary source of income.
• Incorporated farm: T2 at the federal level and CO-17 in Quebec, with access to the small business deduction; registration of the operation with the MAPAQ for the agricultural property tax credit.

Can I use cash-basis accounting for my farm? Yes, agriculture is one of the few sectors where the IRS and Revenu Québec allow the cash-basis method: you report income as received and expenses as paid. A farm accountant confirms its advantages, applies the mandatory inventory adjustment when required, and prepares the transition to the accrual method if your farm incorporates.

Do agricultural programs complicate my accounting? They add margin declarations, AGR-1 slips, and T4A slips, along with deadlines, but an accountant familiar with Farm Financial integrates them into your accounting routine. Proper bookkeeping even becomes a lever for maximizing your payments. We'll connect you with the right accountant for this sector, as often as you need, free of charge.

How much does an accountant cost in this sector? According to the Bankeo Barometer , based on 1,248 real-world cases (2024-2026), the median annual salary for an accountant in Quebec is around $2,000, ranging from $500 to $6,000 depending on the sector and complexity. The Bankeo matching service is free: you pay your accountant directly at standard market rates.

How can I switch accountants for my farm without the stress? We take care of everything, so you don't have to manage the transition. We'll introduce you to an accountant who understands agriculture, free of charge. The transfer of your files (T2042, agricultural declarations, inventories) is seamless, often between two harvests to avoid any disruption. And if you don't get along, we'll find you another one, at no cost.

Is a local or remote accountant better for a farm? What matters is that they understand the realities of Quebec agriculture: cash handling methods, quotas, and programs offered by La Financière agricole. An accountant in your region often has a better understanding of your production and can visit the farm, but many excellent farm accountants work very well remotely using cloud-based tools. We'll work with you to find the right fit for as long as necessary.

How do I plan the transfer of my farm to the next generation? It's one of the most important and complex issues in agriculture. A good accountant structures the tax transfer to children, plans the cumulative exemption of capital gains exceeding €1.25 million on eligible agricultural assets, and spreads everything over several years to reduce the tax burden. We introduce you to an accountant who has already assisted with agricultural transfers, and we remain by your side throughout the entire process.